House of Commons Library

Personal finance: FAQs

Published Wednesday, August 21, 2019

MPs are often asked for help with personal finance issues. These can cover a wide variety of subjects, from difficulties opening a bank account to concerns about mortgage rates. This briefing sets out practical information to help you respond to common personal finance questions. It does not give the full policy background on each point. There are links to relevant documents throughout this briefing that provide more detail.

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The subjects covered include:

  1. Sources of free financial help 
  2. How to deal with most complaints: The Financial Ombudsman Service 
  3. Compensation when a firm goes bust: The Financial Services Compensation Scheme 
  4. Bank branch closures 
  5. Problems with bank accounts 
  6. Banking fraud 
  7. Pensions issues
  8. Mortgage prisoners 
  9. Strong customer verification: Using online banking without a smartphone

Commons Briefing papers CBP-8574

Author: Oliver Bennett

Topics: Consumers, Financial services, Taxation

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